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Fast Feet,Inc

Question 60

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Fast Feet,Inc.(FFI),is a manufacturer of running shoes.FFI gives merchandise on credit to Rick's Running,a small retailer of athletic shoes for distance runners.FFI requires Rick's to sign an agreement that describes the merchandise as collateral and specifies that Rick's will pay FFI weekly based on the sales of the shoes.FFI files a statement of notice with the appropriate government agency.Based on these facts,what kind of creditor is FFI,and why?

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FFI is a secured creditor with a perfect...

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